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Flutter Entertainment, the parent company of FanDuel, said CEO Peter Jackson will step down on Sept. 30 and be succeeded by Dan Taylor, currently president of Flutter and CEO of Flutter International. The leadership change came alongside a Q2 update in which Flutter lowered its 2026 US outlook and said it plans to keep investing in FanDuel even though that will weigh on near-term revenue and adjusted EBITDA.
John Bryant, chair of the board, said: “The Board is pleased to appoint Dan as Flutter’s next Group Chief Executive Officer.”
CEO change arrives with a tougher outlook for FanDuel’s US business
Jackson has led Flutter since January 2018. In its latest update, Flutter described the quarter as mixed and reduced guidance for both the overall business and the US.
Previous 2026 US revenue guidance had been almost $7.8 billion. Flutter now expects a range of $7.125 billion to $7.675 billion. The company said increased investment in FanDuel is expected to reduce 2026 revenue by about $385 million and adjusted EBITDA by $270 million. Overall, Flutter lowered the midpoint of its US revenue outlook by $395 million and its US adjusted EBITDA outlook by $210 million.
Shares were down about 10% in intraday trading following the guidance reduction, according to the source report.
Q2 results show pressure, but Flutter says FanDuel improvements are progressing
Flutter reported US revenue of $1.68 billion in Q2, down 6% year over year, on handle of $11.96 billion, up 2%. US adjusted EBITDA fell 70% to $119 million.
The company said FanDuel’s “U.S. Sportsbook Improvement Plan is showing encouraging signs of progress,” adding that 70% of its customer base now has access to its new sportsbook loyalty program. Flutter also said 80% of surveyed customers said the loyalty program improved their FanDuel experience.
For players and industry watchers, the key takeaway is that Flutter is signaling a willingness to accept weaker near-term financial results in order to defend or extend FanDuel’s position in the US market.
FanDuel Predicts contracts shifting to Crypto.com
Flutter also said sports and novelty contracts for FanDuel Predicts will move to Crypto.com, while CME will continue to provide financial markets. Jackson said Flutter views prediction markets as “a very attractive opportunity,” and the company expects its prediction-market market-making operation to generate about $50 million in revenue and adjusted EBITDA benefit during 2026.
The next date to watch is Sept. 30, when Taylor is set to take over as CEO. Readers should also watch future Flutter updates for more detail on FanDuel investment levels, the rollout of product changes, and any additional information on the Crypto.com transition.
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Source: As reported by Dustin Gouker.
